8-KRegulation FDExhibits & Filings

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Regulation FD Disclosure (Mar 24, 2022)

Filed March 24, 2022For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares, Inc. (FCNCA) filed an 8-K on March 24, 2022, to provide supplemental information regarding its previously completed merger with CIT Group Inc. The filing includes an investor presentation that was to be discussed during a conference call on the same day. This presentation offers additional details and insights into the integration and expected outcomes of the merger. Investors should note that this filing primarily serves to disseminate information in accordance with Regulation FD and to furnish an investor presentation. The presentation itself contains forward-looking statements subject to various risks and uncertainties, including general economic conditions, the ongoing COVID-19 pandemic, interest rate fluctuations, and specific integration risks related to the CIT merger, such as potential disruptions, higher-than-anticipated costs, and challenges in realizing cost savings and revenue synergies. The company explicitly states it has no obligation to update these forward-looking statements.

Key Highlights

  • 1Filing provides supplemental information concerning the merger between First Citizens BancShares and CIT Group.
  • 2An investor presentation (Exhibit 99.1) was filed and discussed during a conference call on March 24, 2022.
  • 3The presentation is intended to offer additional details and insights into the merger and its integration.
  • 4The filing is made under Regulation FD disclosure to ensure broad dissemination of information.
  • 5Forward-looking statements within the presentation are subject to significant risks and uncertainties.
  • 6Specific merger-related risks include potential disruption, cost overruns, and challenges in realizing synergies.
  • 7The company does not commit to updating forward-looking statements for future developments.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide supplemental information and an investor presentation to analysts and investors regarding the previously completed merger between First Citizens BancShares and CIT Group. It was filed in conjunction with a conference call held on March 24, 2022.

The investor presentation likely contains details and insights into the integration process, financial implications, and strategic rationale of the merger with CIT Group. It also includes forward-looking statements about the company's future performance and outlook.

Yes, the filing explicitly mentions several risks and uncertainties associated with the merger. These include potential disruption to customer, supplier, and employee relationships, higher than anticipated transaction costs, reputational risks, difficulties in realizing anticipated cost savings and revenue synergies, and challenges in integrating the two businesses.

The filing states that First Citizens BancShares disclaims any obligation to update forward-looking statements or publicly announce the results of any revisions to reflect future events or developments, except as required by applicable law or regulation.